"Globalization is to no small extent based upon the rise of rapid global communication networks. Some even go so far as to argue that "information has replaced manufacturing as the foundation of the economy". Indeed, global media and communication are in some respects the advancing armies of global capitalism."
(Robert McChesney, author of "Rich Media, Poor Democracy")
"Information flow is your lifeblood."
(Bill Gates, founder of Microsoft)
The usefulness of information and communication technologies increases with the number of people who use them. The more people form part of communication networks, the greater the amount of information that is produced. Microsoft founder Bill Gates dreams of "friction free capitalism", a new stage of capitalism in which perfect information becomes the basis for the perfection of the markets.
But exploitative practices have not disappeared. Instead, they have colonised the digital arena where effective protective regulation is still largely absent.
Following the dynamics of informatised economies, the consumption habits and lifestyles if customers are of great interest. New technologies make it possible to store and combine collected data of an enormous amount of people.
User profiling helps companies understand what potential customers might want. Often enough, such data collecting takes place without the customer's knowledge and amounts to spying.
"Much of the information collection that occurs on the Internet is invisible to the consumer, which raises serious questions of fairness and informed consent."
(David Sobel, Electronic Privacy Information Center)
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The largest media conglomerate in the world, Time Warner resulted from the merger of the publisher Time Inc. and the media company Turner Broadcasting Systems, Inc. in 1996. Time Inc. founded in 1922 primarily concentrated on magazines and books and in the 1950s moved into the broadcasting and entertainment industry, but in the 1970s announced that it was selling its broadcasting holdings and concentrating on cable television. In 1989 Time Inc. merged with Warner Communications Inc., which besides being a major motion-picture and television studio, was also one of the biggest U.S. music recordings producers and cable-television operators.
In January 2000 Time Warner merged with AOL (America Online) in a US$ 243.3 billion deal. Although AOL so far generated far less profit and turnover than Time Warner its quotation on the stock exchange was clearly higher, making Time Warner the junior partner (45 percent) in the new company. Through its merger with AOL, which is a major player in the online-business and owns several Internet-services like Compuserve, Netscape and Netcenter, the new media conglomerate could significantly enlarge its online presence and also complement its traditional media activities.
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The dream of a conflict-free capitalism appeals to a diverse audience. No politician can win elections without eulogising the benefits of the information society and promising universal wealth through informatisation. "Europe must not lose track and should be able to make the step into the new knowledge and information society in the 21st century", said Tony Blair.
The US government has declared the construction of a fast information infrastructure network the centerpiece of its economic policies
In Lisbon the EU heads of state agreed to accelerate the informatisation of the European economies
The German Chancellor Schröder has requested the industry to create 20,000 new informatics jobs.
The World Bank understands information as the principal tool for third world development
Electronic classrooms and on-line learning schemes are seen as the ultimate advance in education by politicians and industry leaders alike.
But in the informatised economies, traditional exploitative practices are obscured by the glamour of new technologies. And the nearly universal acceptance of the ICT message has prepared the ground for a revival of 19th century "adapt-or-perish" ideology.
"There is nothing more relentlessly ideological than the apparently anti-ideological rhetoric of information technology"
(Arthur and Marilouise Kroker, media theorists)
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After a number of mergers and acquisitions five powerful media conglomerates lead the world's content production and distribution. They operate on an international basis with subsidiaries all around the globe and engage in every imaginable kind of media industry.
Table: The World's Leading Media Companies
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(* Revenues of Time Warner only (merger with AOL took place in January 2000)
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